Axos Q2 Fiscal 2024 Earnings Supplement January 30, 2024 NYSE: AX Loan Growth by Category for Second Quarter Ended December 31, 2023 $ Millions Q2 FY24 Q1 FY24 Inc (Dec) Single Family Jumbo Mortgage $ 3,993 $ 4,019 $ (26) Mortgage & Warehouse SF Warehouse Lending 99 295 (196) Multifamily & Multifamily 2,708 2,130 578 Commercial Mortgage* Small Balance Commercial 1,357 832 525 ...

For the quarter ended December 2023, Axos Financial (AX) reported revenue of $352.74 million, up 54.6% over the same period last year. EPS came in at $1.60, compared to $1.38 in the year-ago quarter.The reported revenue represents a surprise of +42.77% over the Zacks Consensus Estimate of $247.07 million. With the consensus EPS estimate being $1.39, the EPS surprise was +15.11%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37709 AXOS FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0867444 (State or other jurisdiction of incorporation or organization)(I.R.S. ...

SAN DIEGO--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX), parent of Axos Bank, announced today that leading personal finance website GOBankingRates.com named Axos Bank as a Top Bank in America for “Best Checking Accounts.” This is the seventh time since 2015 that Axos Bank has been featured on the GOBankingRates list of best banks. “We are proud to be recognized as a leader in consumer digital banking,” said Brian Swanson, Axos’ Executive Vice President of Consumer Banking. “Our Essential Checking acc ...

The market expects Axos Financial (AX) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 30, 2024, might help the stock move higher if these key numbers ...

Axos Financial, Inc. (NYSE:AX) Q1 2024 Earnings Conference Call October 26, 2023 5:00 PM ET Company Participants Johnny Lai - SVP, Corporate Development and IR Greg Garrabrants - President and CEO Derrick Walsh - EVP and CFO Conference Call Participants Andrew Liesch - Piper Sandler Tim Switzer - KBW David Chiaverini - Wedbush Gary Tenner - D.A. Davidson Operator Greetings. Welcome to Axos Financial Incorporated's First Quarter 2024 Earnings Call and Webcast. [Operator Instructions] Please note, this confer ...

Financial Performance - Axos Financial, Inc. reported net income of $82.645 million for the period ended September 30, 2023, compared to $58.407 million for the same period in 2022, representing an increase of 41.4%[121] - Adjusted earnings for the same period were $84.596 million, up from $71.615 million in 2022, reflecting a growth of 18.0%[121] - The diluted earnings per share (EPS) increased to $1.38 from $0.97, marking a rise of 42.3% year-over-year[121] - Net income for the three months ended September 30, 2023, was $82.6 million, or $1.38 per diluted share, compared to $58.4 million, or $0.97 per diluted share for the same period in 2022, representing a 41.3% increase in net income[130] Asset Growth - The company holds approximately $20.8 billion in total assets and $33.9 billion in assets under custody and/or administration[109] - Total assets increased to $20,825,206 thousand as of September 30, 2023, up from $18,407,078 thousand a year earlier, reflecting a growth of 13.1%[126] - Common stockholders' equity increased to $1.976 billion from $1.701 billion, a growth of 16.1%[122] - The total assets of the company increased by $0.5 billion, or 2.3%, to $20.8 billion as of September 30, 2023, compared to $20.3 billion at June 30, 2023[164] Income and Revenue - Net interest income for the three months ended September 30, 2023, was $211,155 thousand, an increase from $180,475 thousand in the same period of 2022, marking a growth of 16.9%[128] - Non-interest income increased to $34,507 thousand for the three months ended September 30, 2023, compared to $27,208 thousand in the same period of 2022, representing a growth of 27.1%[128] - Total interest and dividend income increased by 62.6%, primarily due to a $118.6 million increase in interest income from loans, driven by a 220 basis point increase in rates earned and a $1.9 billion increase in average balances[136] - Non-interest income increased by $7.3 million, or 27%, primarily due to higher broker-dealer fee income and banking and service fees[141] Efficiency and Ratios - Efficiency ratio improved to 49.05% for the three months ended September 30, 2023, down from 55.90% in the prior year, indicating better operational efficiency[128] - Common equity tier 1 capital to risk-weighted assets was 11.11% as of September 30, 2023, up from 9.97% a year earlier, indicating stronger capital position[126] - The efficiency ratio for the Banking Business segment improved to 45.44% in 2023 from 52.93% in 2022, indicating enhanced operational efficiency[158] Credit Quality - Provision for credit losses decreased to $7,000 thousand for the three months ended September 30, 2023, down from $8,750 thousand in the prior year, indicating improved asset quality[128] - Net annualized charge-offs to average loans decreased to 0.04% for the three months ended September 30, 2023, compared to 0.05% for the same period in 2022, reflecting enhanced credit quality[128] - Non-performing loans totaled $106.9 million, or 0.62% of total gross loans, an increase from 0.52% at June 30, 2023[170] - Total non-performing assets rose to $115.7 million, or 0.56% of total assets, compared to 0.47% at June 30, 2023[170] Capital and Liquidity - The Company and Bank met all capital adequacy requirements as of September 30, 2023, maintaining a Tier 1 capital ratio of 9.27%, exceeding the minimum requirement of 4.0%[191] - Total capital as of September 30, 2023, was $2,340.1 million, with a total risk-based capital ratio of 14.06%, above the required minimum of 10.0%[194] - The Company believes it has adequate liquidity sources to meet anticipated needs and contingencies for both the short- and long-term[183] Stock and Shareholder Activity - The company repurchased 648,208 shares of common stock at an average price of $37.85 per share during the three months ended September 30, 2023[180] - Stockholders' equity increased by $59.0 million to $1.976 billion at September 30, 2023, driven by net income of $82.6 million[180] Market and Interest Rate Risk - The company is exposed to market risk due to fluctuations in interest rates and market prices, impacting its securities business[207] - The company manages interest rate risk by setting limits on the size and duration of positions in its securities business[208]

Securities Portfolio - As of June 30, 2023, the total securities portfolio was $233.1 million, a decrease from $264.3 million in 2022, representing a decline of approximately 11.8%[49] - The available-for-sale securities portfolio comprised $232.4 million, with 67.6% in Alt-A RMBS, 18.2% in CMBS, and 10.3% in agency RMBS[50] - The weighted-average yield on available-for-sale securities was 5.21% as of June 30, 2023[50] Deposits - Total deposits reached $17.1 billion, with 92.3% in demand and savings accounts and 7.7% in time deposits[52] - The number of total deposit accounts increased to 479,279 in 2023, up from 395,699 in 2022, marking an increase of approximately 21%[60] - Interest-bearing checking and savings accounts rose to 427,299 in 2023, driven by enhanced marketing efforts[60] - Total deposits increased to $17,123,108, representing a 22.4% growth from $13,946,422 in the previous year[62] - Total interest-bearing deposits reached $14,224,958, with an average rate of 3.76%, up from $8,912,452 and 0.85% respectively[62] - Demand deposits amounted to $3,334,615, showing a growth rate of 2.43% compared to $3,611,889 in the previous year[62] - Savings deposits increased to $9,575,781, with a rate of 4.20%, compared to $4,245,555 and 0.95% in the prior year[62] - Time deposits totaled $1,314,562, with an average rate of 3.91%, up from $1,055,008 and 1.25% in the previous year[62] Capital and Regulatory Compliance - As of June 30, 2023, the Company and the Bank's capital ratios exceeded the minimums necessary to be considered "well-capitalized" under regulatory requirements[91] - The Regulatory Capital Rules require a minimum "common equity Tier 1" (CET1) ratio of 4.5%, a Tier 1 risk-based capital ratio of 6.0%, and a total risk-based capital ratio of 8.0%[88] - The Company and the Bank elected the current expected credit losses (CECL) five-year transition guidance for calculating regulatory capital ratios, which allows adding back 100% of the capital impact from the day one CECL transition adjustment[90] - The capital regulations require savings associations to maintain tangible capital of at least 1.5% of total adjusted assets[108] - The capital conservation buffer of 2.5% is required for banking institutions to avoid restrictions on capital distributions[88] - The Company is not subject to enhanced stress test regulations as it has total consolidated assets below $100 billion[108] - The Bank was in compliance with the Qualified Thrift Lender (QTL) requirement, maintaining 65% of portfolio assets in qualified thrift investments[112] - Axos Bank was in compliance with the applicable liquidity standard as of June 30, 2023[113] Operational Efficiency and Technology - The company aims to enhance its technology platforms to improve operational efficiency and customer experience[73] - The company emphasizes a comprehensive suite of treasury management products to support deposit acquisition and retention[54] - The company’s deposit operations are centralized, allowing for scalability and lower funding costs compared to traditional branch models[58] Market and Interest Rate Risk - Interest rate risk is the primary market risk, affecting net interest income, net interest margin, and the value of the securities portfolio[347] - A positive interest rate sensitivity gap indicates that interest rate sensitive assets exceed liabilities, which is favorable in a rising interest rate environment[356] - The net interest rate sensitivity gap was $4,648,597, representing 24.41% of total interest-earning assets, highlighting the company's exposure to interest rate changes[358] - The projected net interest income for the next 12 months is $1,064,324, reflecting a 9.7% change from the base[361] - The market value of equity as of June 30, 2023, was $1,843,498, with a sensitivity to interest rate changes showing a decrease of 1.4% with a 200 basis point increase[363] Employee and Competitive Landscape - The company had 1,455 full-time employees as of June 30, 2023, with no labor union representation[76] - The competitive landscape for banking and financial services is intensifying, with the company focusing on superior service and competitive rates to attract deposits[78] Securities Business Regulations - The Bank is subject to extensive laws and regulations governing its securities business, including compliance with the Dodd-Frank Act, which may increase operational costs[135] - The Bank's ability to make capital distributions, such as cash dividends, is limited by OCC regulations, which may affect its financial flexibility[116] - The Bank must disclose its privacy policy under the Gramm-Leach-Bliley Act, informing consumers of their rights regarding information sharing[124] - The Bank is required to comply with U.S. Treasury's Office of Foreign Assets Control sanctions, which could have serious legal and reputational consequences if violated[130] - The broker-dealers are subject to the SEC's customer protection rule, requiring maintenance of physical possession or control of fully-paid securities and certain cash reserves[140] - The Securities Investor Protection Corporation (SIPC) provides protection for customers up to $500,000, with a maximum of $250,000 in cash[140]

Axos Q4 Fiscal 2023 Earnings Supplement ...

Axos Financial, Inc. (NYSE:AX) Q4 2023 Earnings Conference Call July 27, 2023 5:00 PM ET Company Participants Johnny Lai – Senior Vice President, Corporate Development and Investor Relations Greg Garrabrants – President and Chief Executive Officer Derrick Walsh – Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Liesch – Piper Sandler Gary Tenner – D.A. Davidson David Feaster – Raymond James Michael Perito – KBW Operator Greeting, and welcome to the Axos Financial Four ...